FINOLAB Member JPYC becomes the first in Japan to issue Japanese Yen-denominated stablecoin

FINOLAB member company, JPYC Inc., has announced „a major milestone, becoming the first in Japan to issue a Japanese Yen-denominated stablecoin after obtaining its Fund Transfer Service Provider registration”.

On August 18, 2025, JPYC Inc. was officially registered as a “Fund Transfer Service Provider” (Registration No. Kanto Local Finance Bureau 00099) under the Payment Services Act.

This registration makes JPYC the first entity of its kind in Japan authorized to issue an electronic payment instrument (stablecoin) pegged 1:1 with the Japanese Yen.

Sandy Peng, co-founder of Scroll, commented: ” While the US spent 18 months debating the GENIUS Act, Asia shipped:
→ Hong Kong: LEAP framework live earlier this month (August 1st);
→ Singapore: SCS licensing for SGD stablecoins;
→ Japan: First approvals coming this fall.

And the speed is intentional. Every week of delay is another week of SWIFT fees. Another week of 3-day settlements. Another week of Western Union taking 6.5% from workers sending money home. Japan to Philippines remittances are currently at $0.74 billion annually. That’s an estimated cost of $50+ million in fees. With yen stablecoins, this goes to under $0.5 million → that’s $49.5 million staying with families who need it.„

But this goes beyond remittances and fees.

Sandy Peng added: „Japanese corporations will finally be able to operate on digital rails that match their ambitions.
→ Toyota paying suppliers in Vietnam;
→ SoftBank settling with portfolio companies;
→ Uniqlo managing Asian treasury operations.

All possible with yen that moves at internet speeds. Asia learned from watching dollar stablecoin chaos. And the playbook is now clear: Local currency stablecoins backed by real assets, with proper licensing.„

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You can read the full press release (in Japanese) here

FINOLAB（The Fintech Center of Tokyo, FINOLAB) is the FinTech community & space for members only aiming to create a FinTech ecosystem and new businesses in one of the most prominent international financial centers (Tokyo, Otemachi area). FINOLAB was Established in February 2016 as Japan’s first FinTech center through a collaboration between Mitsubishi Estate Co.,LTD, DENTSU INC., and DENTSU SOKEN INC.（Formerly Information Services International-Dentsu, Ltd.). It is currently operated by FINOLAB Inc. Starting with a few companies, FINOLAB now brings together numerous domestic and international FinTech startups, Enterprises, regional governments, regulators, and other stakeholders.